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The previous edition in the iSeries sold more than a million in the first 24 hours.

With the iPhone 5 about to come out, the predictors have taken their magic calculator machines out to guess how many phones Apple will sell following the release. And expectations for the next iteration in the iSeries are higher than the already high standards set by last year's new iPhone. The 4S broke records, selling more than 1 million Siri-equipped gadgets within the first 24 hours, and over 4 million after the first weekend, which was double its predecessors three day figures. All the people who sooth-say in this department suggests this update will be even bigger, with some suggesting (perhaps too enthusiastically) these sales could save the U.S. economy. True or not, the wild predictions have driven Apple's stock to its most valuable company of all time status. Here's what the people expect.

First weekend

5 to 5.5 million. "Assuming supply chain constraints aren’t a major issue and the seven country rollout ensues, we believe at least 5 million to 5.5 million iPhone 5’s can be sold in [the first three days]," White added.

5 to 6 million. "We expect five million to six million to be a reasonable estimate of first-weekend sales for the iPhone 5," Raymond James director Tavis McCourt added to Paczkowski.

6 to 10 million. "There is no question iPhone 5 will be the largest consumer electronics launch in history," Piper Analyst Gene Munster told AllThingsD. Though, word is Munster thinks 8 million is the number.